Search Results for "Saudi Central Bank"

Saudi Central Bank Grants 2 More Licenses to Payment Companies

The Saudi Central Bank (SAMA) has granted two licenses to International Digital Solutions Co and Azm Fintech Co to provide payment services. This brings the total number of payments companies licensed by SAMA to 13 companies. This step comes from

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Saudi Central Bank Launches Instant Payment System Sarie

The Saudi Central Bank (SAMA) launched the instant payment system sarie, under the patronage of His Excellency Governor of the Central Bank Dr. Fahad bin Abdullah Al-Mubarak. Commenting on the achievement, the Central Bank Governor said that the launch of

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Saudi Central Bank Set to Launch Instant Payment System Available 24/7

The Saudi Central Bank (SAMA) has announced that it will be launching a round the clock instant payment system effective from 21st of February onwards. Upon its activation, the system will allow financial institutions, companies, and individuals to complete transactions

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Saudi Central Bank Releases Its Open Banking Framework

The Saudi Central Bank (SAMA) has issued its open banking policy which outlines its objective for implementation in Saudi and the benefits that the financial sector stands to gain from it. SAMA plans to go live with its open banking

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Zain’s Fintech Arm First to Receive Micro Loans License From Saudi Central Bank

Zain Group, a telecommunications company in the Middle East and North Africa region, announced that its fintech arm Tamam has been officially licensed by the Saudi Central Bank (SAMA) to provide micro-financing services to consumers across the Kingdom. This makes Tamam

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Saudi and UAE Central Banks Release Report on Joint Digital Currency Project Aber

The Saudi Central Bank (SAMA) and the Central Bank of the United Arab Emirates (CBUAE) have released the report on their joint central bank digital currency (CBDC) initiative dubbed as Project Aber. The wholesale CBDC used only by the central

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After Banning Crypto Saudi Arabia Plans Central Bank Digital Currency

After banning the trading of cryptocurrencies, Saudi Arabia is now developing a blockchain-based digital currency in collaboration with the United Arab Emirates (UAE). The central banks of the two countries are planning to run a pilot of a shared digital

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5 Trends Driving Open Banking in the Middle East 2021

Open banking in the Middle East has become one of the latest buzzwords to come out of the region’s accelerated fintech agenda. Many countries in the region already had a sturdy traditional banking ecosystem. Now, with a growing incentive to

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Finleap and Batelco Partner to Boost Open Banking in the MENA Region

European fintech ecosystem builder finleap entered into a strategic partnership with Bahraini telecoms company Batelco, according to an announcement earlier this week. The partnership is aimed at promoting open banking in the MENA region. Batelco recently became the first GCC-based

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Gen Z, Millennials Drive Saudi Fintech Adoption

Cash usage is declining amongst growing Saudi fintech adoption, according to the findings of Fintech Saudi’s National Fintech Adoption Survey. Fintech Saudi announced the results of the National Fintech Adoption Survey, which it conducted in early 2021. The survey assesses

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